Business news without the bullshit

We still don't have answers to these questions

From Spring 2010

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$9 trillion in off balance sheet transactions

We now know a little about some of the money the Federal Reserve loaned out to "avert the crisis."

But note, we only know "a little" and we only know about "some" of it.

Here's a shocker...

Bloomberg news reported that the Federal Reserve carried out an estimated $9 TRILLION in "off balance sheet" transactions in just eight months - and we still don't have a clue what those were about, what they bought or loaned and who benefitted.

Note: The banking lobby succeeded in getting Representative Grayson, one of just a tiny handful of Congressman who asked these kind of pointed questions, voted out of office recently.

The $9 trillion?

Americans will pay it back in a combination of higher taxes and lower standard of living, low possibly to the point of diminishing us to the status of a Banana Republic, if we are not in fact already there.